This course is compulsory on the MSc in Management Science (Decision Sciences) and MSc in Management Science (Operational Research). This course is available on the MSc in Applicable Mathematics. This course is available as an outside option to students on other programmes where regulations permit.

Students should have a knowledge of mathematics and statistics to the level of MA107 Quantitative Methods (Mathematics) and ST102 Elementary Statistical Theory.

An introduction to stochastic modelling and applied statistics. Applied Statistics (OR426.1): Revision of Descriptive stats, EDA, outliers, transformations; ideas of experimental design, one-way ANOVA; simple and multiple regression. Applied Stochastic Modelling (OR426.2): This course is about how to build models of systems which are characterised by uncertainty and random variability. The focus is on simulation (i.e. computer-based) models and aims to develop simulation modelling skills, understanding of the theoretic basis which underpins the simulation methodology, and an appreciation of practical issues in managing a simulation modelling project.

21 hours of lectures and 19 hours of seminars in the MT.

OR426.1 - exercises are set weekly and discussed in the following classes, which alternate between hands-on computer sessions and problem classes. Any written work handed in prior to the class will be marked and returned. OR426.2 - students will have the opportunity to submit a mock project for marking and comment several weeks before the final assessed project is due.

Recommended for OR426.1 are: Ramsey & Schafer, The Statistical Sleuth, Duxbury; M Chapman & B Mahon, Plain Figures; W W Himes & D C Montgomery, Probability and Statistics in Engineering and Management Science; D C Hoaglin, R J Light, B McPeek & F Mosteller, Data for Decisions ; J A Rice, Mathematical Statistics and Data Analysis; B F Ryan & B L Joiner, MINITAB Handbook; E Tufte, The Visual Display of Quantitative Information; J W Tukey, Exploratory Data Analysis; T J Wonnacott & R J Wonnacott, Econometrics.

Recommended for OR426.2 are: A M Law & W D Kelton, Simulation Modelling and Analysis; M Pidd, Computer Simulation in Management Science, S Ross, Simulation , Academic Press.

Project (50%) and project (50%) in the LT.
This course is examined entirely by course work and projects, as follows: 50% for a final project for Applied Statistics, and 50% to a management report covering the results of a computer simulation project. Written work is marked on presentation as well as on content.